TR Garland (pictured with me in the photo below) is a friend of mine and co-author of one of my most recent #1 best-selling books called “Building The Ultimate Network.” He’s also considered a top trainer for the Referral Institute.

For some time now, we’ve both observed a need to drill down on one of the most important and foundational concepts to networking – The VCP Process®. Five months ago, we started a much-anticipated 12-part monthly series of blog posts which addresses this and contains some very timely information for networkers across the globe. Today, we’re proud to share with you Part 5 of the series. Enjoy.

AUDIT YOUR ACTIVITIES
(Part 5 of 12 of the “Navigating The VCP Process® To Networking” Series)

In Part 1, Part 2, Part 3 , and Part 4 of this series, we introduced and re-introduced the concept and steps of The VCP Process® to Networking for our readers through brief anecdotes, relevant comparisons, and sometimes even humorous situations.

Today, we’d like to share with you one laser-focused Power Habit that you can use on a weekly basis to increase the number of referrals you receive. And, that Power Habit is based upon the following underlying Success Principle: It’s not always about the ACT of the ACTIVITIES that one should focus on. It’s the ANALYSIS of those ACTIVITIES that produces your greatest results.

A close friend of ours, Jim Cathcart (www.Cathcart.com), is listed in the professional Speaker Hall of Fame and is a very well-known author and speaker on the topic of Sales. In fact, for 3 years in a row Jim has been selected as one of the Top 5 Speakers on Sales & Service. So, I guess what we’re saying is that we believe “Jim knows his stuff!” And in a recent conversation, he said: “Things that are measured tend to improve.”

It got us thinking that nothing could be truer, especially in the process of getting referrals. Many networkers actually become Referral Institute clients because they want the trainers to hold them accountable for their weekly actions so that they get improved results. We actually steer them towards an amazing online referral tracking tool called Relate2Profit (www.Relate2Profit.com) to help them hold themselves accountable. But for today’s conversation, let’s take baby steps. Let’s talk about something you can do with tools you already have at your disposal…a pen and your Daily Planner.

Our focus is measuring your weekly activities and how they relate to moving people in your network through The VCP Process® all the way from Visibility through Credibility to Profitability.

Here are the recommended steps:

First thing every Monday morning block off 5 minutes.

Write down the names of 5 people who you want passing you steady referrals.

Next, in your Daily Planner block off a 2 minute segment of time for each of the 5 days of the week.

Then, during each of those separate 2 minute segments choose 1 of the 5 people who you want passing you steady referrals.

Finally, TAKE ACTION by doing something to help YOU move that person (who YOU chose) through The VCP Process® to networking on your behalf.

For example, if you are only at Visibility with 1 of those 5 people, what can you do in those 2 minutes to help you move to Credibility with them? Or, if you are only at Credibility with 1 of those 5 people, what can you do in those 2 minutes to help you move to Profitability with them?

At a loss for ideas on what you can do in 2 minutes to help compel someone to pass you referrals? Here’s a brief list of activities that you might want to consider:

Search the web for an article relevant to their professional (or personal) goals and email it to them.

Go to their Facebook timeline or LinkedIn profile and comment on one of their recent posts to show that you care about what they care about.

Send them an email acknowledging that you’re aware of who an ideal client is for them…and let them know you’ll continue to be on the lookout.

Call them up and invite them to accompany you on a meeting you already have scheduled with a prospective client of yours.

As noted above, this is a recommended series of actions that we suggest you implement on a weekly basis. If you do, the COMPOUND EFFECT of these weekly Power Habits will deliver you massive results in the medium and long term with your business relationships.

If this seems too simplistic to you right now, please take special note of the following. In a recent survey over a 12 week period, when asked if they REGULARLY dedicated just 2 minutes for each of the 5 days of the week to perform ANY of the above recommended actions towards staying “top of mind” with prospective Referral Sources…less than 50% of the respondents reported that they did not.

This means that people have identified key Contact Sphere Professionals who should be passing them referrals. BUT, they go weeks and weeks without performing small actions to compel these people to pass them referrals or even to stay top of mind!

Where would you fit into this survey?

In closing, we’d like to recommend you consider that the above Power Habit that can be performed is actually only 15 minutes of your work week. If you work a standard 40 hour week, it’s less than 1% of your time investment for that week. We believe that there should be no excuse for not dedicating 1% of your work week to “staying top of mind” with prospective Referral Sources. Do you agree?

We thank you for reading today’s post and extend an invitation to be on the lookout for next month’s contribution to this series – Part 6 called “The ABC’s of Business Networking”.

1. Arrange a one-to-one meeting. Meeting a referral source in person is an excellent opportunity to learn more about his business and interests. Prepare some questions in advance so that the conversation flows smoothly. Be ready to give an update on your business and to ask lots of questions about your source’s interests.

2. Extend an invitation. Invite a referral source to a networking event. Introducing her to other businesspeople you know gives your source an opportunity to meet others in your target market and may also provide new business opportunities.

3. Set up an activity. A recreational activity, such as a golf outing, fishing trip, concert or play, is a great opportunity to let your referral source see a different side of you in an informal setting. The activity should be one that will give everybody time to relax, but it may also include an element of information such as a speech or educational presentation. To maximize the effectiveness of your time with your sources, you should invite no more than four people and spend at least one hour with each.

4. Arrange a group activity for clients. Gathering your clients together creates an excellent environment for synergy and for raising your credibility with all. The one thing the people in this group will definitely have in common is you, so you’ll certainly be the focus of a good many conversations. Group activities may be social, such as a barbecue or a ball game, or they may be educational, such as a seminar or demonstration.

5. Nominate a referral source. Watch for opportunities to nominate a referral source for an award. Local service and civic organizations often present annual awards recognizing contributions to a particular cause, and local periodicals often sponsor awards contests for businesspeople. Find out what groups and interests your referral source is involved in, and check to see if there is any form of recognition associated with them.

6. Include a source in your newsletter. Even a brief mention of a referral source in your newsletter can pay dividends down the road, including the opportunity for your source to reciprocate with his newsletter.

7. Arrange a speaking engagement. Help your referral source get in front of a group that would be interested in her business or area of expertise. Local chapters of service organizations, such as Rotary and Kiwanis, are always looking for good speakers. If you belong to a group that invites people to speak, use your contacts to help your source make the rounds among various chapters.

What are some other ways that you recommend to stay in contact with your networking partners?

Subscribe to IvanMisner.com

Subscribe to this feed to get automatic notifications sent directly to your e-mail inbox each time
a new blog is posted on IvanMisner.com